Uzi-Trades-Forex

Uzi-Trades-Forex Updated 

We have both possibilities to either go short or long at the moment. I think the chart is self explanatory so I dont have to elaborate much. Best of luck and Happy trading :-) And always exercise good risk management in your trades!

Uzi-Trades-Forex Updated 

Hey there folks! Let us analyze today what to expect from gold in the upcoming few days from a purely technical perspective. Here is the data I was able to extract from the chart as of now: 1- The price is seen moving in a broadening uptrend channel since the month of November, 2022 2- Currently we are stuck inside a rising wedge consolidation/bullish exhaustion...

Uzi-Trades-Forex Updated 

XAUUSD is seen consolidating in a symmetrical triangle range for some time now. However, this idea elaborates what to expect if the triangle breaks in one of the two directions. 1- Orange lines demonstrate the possible targets if this big consolidation manages to break low empowering bears to take over the yellow metal 2- Green lines mark the possible targets if...

Uzi-Trades-Forex Updated 

What we are looking at in this chart is the technical analysis of where $index might be heading for the upcoming days. Now let us analyze the technical signs first then try to extract a tangible conclusion: 1- We have touched a demand zone that was formed recently during March, 2023 2- After bouncing off a recent high near ~106, a downtrend channel movement was...

Uzi-Trades-Forex Updated 

On a larger spectrum, I am convinced that Gold is indecisive about a clear direction. For now, xauusd is consolidating between two big trendlines. I am not saying that it is not tradable on a smaller frame (Honestly I do too). But the major direction still awaits breakout confirmation. For the reference, we must break one of the two (red and green) trendlines to...

Uzi-Trades-Forex Updated 

Short-term idea: We might undergo a head and shoulders scenario on XAGUSD if 22.21 breaks. This idea is invalid if the price goes above 22.71 before breaking 22.21 or hits the stop loss at 22.6 after breaking 22.21 and before reaching the target zone. This idea is valid only a H1 gives a closing price below 22.21. If this idea validates: Stop loss is at...

Uzi-Trades-Forex

I deem it important to visit long term projections of the instruments we are trading on day to day basis. Therefore, today we are going to discuss about what is happening on XAUUSD monthly. In my last long term projection ideas (See related ideas) I claimed that the major downtrend has struck the yellow metal. We underwent a major reversal triggered by breaking a...

Uzi-Trades-Forex

Cable ( GBPUSD ) does look like giving out an appealing short entry possibly heading to a new historic low or at least previous predefined and recent lower target considering the following: 1- We have breached and retested the latest possible lower trendline (Green) on the daily timeframe 2- There is a possibility of double tops on daily timeframe if we break the...

Uzi-Trades-Forex

As elaborated in my previous idea that we have undergone a bearish reversal on gold, this is the further explanation of what to expect in the upcoming adventure of bearish trend continuation. And what the daily frame has to offer in the longer run. As it dropped from 1959 it dropped us a high and low price (1860 rounded off). This has allowed us to apply the...

Uzi-Trades-Forex Updated 

Aussie may be fruitful to sellers in the next couple of weeks pouring out a healthy opportunity to expect over 200 pips, here are the technical aspects you should consider: 1- Head and shoulders reversal pattern spotted, marking the start of the downtrend 2- Daily lower trendline has been breached and broken low (another reason to expect a downtrend) 3- Head and...

Uzi-Trades-Forex Updated 

Alright guys, we have come across something very interesting on our favorite metal. Today a few of the technical perspectives that I want to highlight are as follow: 1- First of all, I would like to warn you that it is a long term signal but you can trade it on intraday basis looking entries in the major direction 2- We have spotted a major inverted cup and...

Uzi-Trades-Forex Updated 

Alright guys, USDCAD might be heading high, here are my reasons to expect further deterioration of CAD against USD: 1- Inverted head and shoulders pattern spotted 2- We have been long inside the falling wedge (The ABCD triangle) and we are on the brink of breaking out, although we need a daily closing price outside the upper border of the triangle 3- Let's just...

Uzi-Trades-Forex Updated 

After our last target on XAGUSD bullish analysis (see related ideas), the target zone was hit and managed to bounce the price by a $1 i.e. 500 pips. Now, we should be expecting some large frame correction considering the following technical aspects that silver just presented: 1- Weekly Bearish Harami Candle 2- Strong Daily bearish engulfing candle on last...

Uzi-Trades-Forex

With USD recently becoming a less attractive asset to hold following the recent dump and bubble burst, US10Y bond yields are not demonstrating a very appealing picture as well. Technical aspects are as follow: 1- Daily TF Cup and Handle reversal pattern 2- Uptrend lower trendline Broken 3- It has made a first Lower High and Lower Low and still pushing lower with...

Uzi-Trades-Forex

This roadmap is what we have been dealing with for last whole year. With each level breaking we are headed for the next. Therefore, I felt the need to highlight the importance of these levels in this idea. Trend has been bullish since last November, 2022 (Double bottoms formed during October). Since we are still in the range between 2071 and 1614, we will only...

Uzi-Trades-Forex

Guess we will hit the final target of the 3rd bullish cycle at 1952. Here are my reasons: 1- Hourly trendline broke higher 2- Daily rising Three methods pattern Higher than 1952 is just bonus

Uzi-Trades-Forex Updated 

Things have been quite boring since we are stuck in the rising consolidation on Gold. Anyways, just to highlight the fact that things are pretty stuck in this entire range. All we can do is wait at the moment for a clear direction. The red line marks the ascending resistance where the yellow line marks the bearish lifeline. Since gold has failed to cross both of...

Uzi-Trades-Forex

We have approached a very critical zone for gold that has proven to be the major deciding factor between 2k and back to 17xx and lower for the last 3 years. Supply Zone 1 and 2 are the only zones between higher 19xx and 2xxx price levels that have the potential to bounce the price back to resume the bearish trend. If they fail to bounce the price, we are very...